The Richmond Heights City Council on Monday approved an amended agreement with Mullenix Richmond Heights Redevelopment Corporation, which hopes to build a hotel and parking garage at the intersection of Brentwood Boulevard and Clayton Road.
District 1 councilmen Rob Jacknewitz and Matt Casey voted against the proposal, while the remaining six council members and Mayor James Beck voted in favor of it.
At a meeting last month, Chief Executive Michael Mullenix said banks have expressed interest in providing financing for the project. One of the prospective lenders is Heartland Bank, which he said knows the strength of the market and the power of the Brentwood-Clayton intersection.
"They definitely are interested in doing the second hotel with us," Mullenix said at the time. Pulaski Bank probably would partner with Great Southern Bank to help provide the entire loan amount, he said.
The development also would feature a restaurant facing Clayton Road and a banquet space.
Mullenix said last month that he and his brother, Gregory, have worked on other projects during the recession but remain committed to Richmond Heights. Gregory Mullenix said plans for the development have been adjusted in an effort to conserve costs and ease parking concerns.
"We have pledged almost everything we own to keep this thing going," Michael Mullenix said.
More about hotel development on Patch:
- Drury Gains Preliminary Approval for Brentwood Development
- Brentwood Drury Hotel to Break Ground in Spring 2013
- Drury Asks for Tax Breaks to Build Brentwood Hotel